Financial Services on Sovryn

Sovryn offers a number of financial services built around the Bitcoin ecosystem. Bitcoin mainchain is designed to store and transmit Bitcoin only. Therefore, the RSK BItcoin sidechain has been designed to allow for further transactions and with assets beyond Bitcoin.

The native currency of RSK is RBTC. RBTC is bitcoin on steroids. It is pegged 1:1 to bitcoin. A transfer from bitcoin to RBTC involves locking bitcoin on the mainchain and releasing the same amount of RBTC on RSK. RBTC enables your bitcoin to interact with a range of services on Bitcoin Layer 2 (on the RSK Bitcoin sidechain) and brings extra security, alongside permissionless transfers.

You will need RBTC for any transaction on Sovryn. See FastBTC Relay to fund your wallet for transactions.

Sovryn offers lending services. Currently, you can lend RBTC, XUSD, DoC, rUSDT, and BPRO. Interest rates are set algorithmically and updated dynamically based on the available liquidity. See Lending on Sovryn for more details.

Sovryn also offers borrowing. You can use RBTC, XUSD, DoC, and BPRO as collateral. You can borrow XUSD, DoC, BPRO, and SOV against your collateral. Interest rates are set algorithmically and updated dynamically based on the available liquidity. See Borrowing on Sovryn for more details.

You can buy and sell assets on Sovryn. You can sell a large number of assets: RBTC, DoC, rUSDT, BPRO, SOV, ETHs, MoC, XUSD, BNBs, RIF, MYNT, and FISH. Using any of one of these assets you can buy any other in the same list.

You can also trade on margin, taking leveraged long or short positions on various asset pairs. Currently, only long positions are allowed on SOV.

To learn more about buying, selling, and margin trading, see Swap, Spot, & Margin Trading.

Sovryn also allows you to provide liquidity to create markets for trading. These pools earn trading fees. Some of them also earn rewards in SOV. See Yield Farming/Market-Making to learn more.

Finally, you can invest in the protocol to earn fees and participate in Bitocracy (governance) by buying and staking the SOV token. Details are found in Sovryn Rewards & Staking Fees Explained.